[ANN] Metronome, an autonomous cryptocurrency with predictable supply

[MTNToken]

My opinion is, you need to use the auction system, as it was in the Raiden Network.
The current scheme can be used for fraud by various stakeholders.
1) A fraudster can register 1000 wallets and simultaneously send an aired at the right topic, choosing the right price for yourself.
2) Those people who buy in the beginning will suffer very much and will lose all their savings.

P.s. Very nice idea and very bad token-sale process atm in my opinion.

The way that descending price auctions work means that each purchaser has the opportunity to purchase at the price they see as fair, provided there are MTN available for purchase at that price. They will purchase and receive the MTN at the rate it was purchased. Purchasing with 1 or 1000 wallets would not change the price.

[1715107405]

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[1715107405]

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[1715107405]

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[rpgmasters]

I know, but no one conducts an ICO on such a system, and in my experience of investing - this is a very bad system for organizing an ICO.

[MTNToken]

My opinion is, you need to use the auction system, as it was in the Raiden Network.
The current scheme can be used for fraud by various stakeholders.
1) A fraudster can register 1000 wallets and simultaneously send an aired at the right topic, choosing the right price for yourself.
2) Those people who buy in the beginning will suffer very much and will lose all their savings.

P.s. Very nice idea and very bad token-sale process atm in my opinion.

Hello,

Have you gotten any further info about the issues you noted with this auction process?

I'm interested in this coin but I do not like the potential issue you noted.

I noticed the OP did not respond in this thread after you brought up the potential fraud issue, very concerning as a potential buyer. 

The way that descending price auctions work means that each purchaser has the opportunity to purchase at the price they see as fair, provided there are MTN available for purchase at that price. They will purchase and receive the MTN at the rate it was purchased. Purchasing with 1 or 1000 wallets would not change the price.

[atchoum6760]

I think it's a good project but just i don't like this sytem to purchase by auction.Target date is February 5 we have the time to see.

[MTNToken]

Learn more about the Metronome Team in the Metronome Minute series. This week features Metronome's Blockchain analyst, Matt Lam. Read about him here:
https://medium.com/@MetronomeToken/metronome-minute-matt-lam-35c6618440a9

[MTNToken]

I think it's a good project but just i don't like this sytem to purchase by auction.Target date is February 5 we have the time to see.

Yes, February 5th, 2018 at UTC is the target for the Initial Supply Auction Launch. We'll keep updating and posting content for the community here and on our other socials channels.

[MTNToken]

Learn more about Metronome's first design pillar: Self-Governance

https://medium.com/@MetronomeToken/self-governance-as-a-design-goal-fc06afd61dd5

[Enjorlas]

Hello, is there a bounty thread to participate to the marketing campaign ? I didn't find it, can you give me a link?

[TonyGaruda88]

I see the Metronome project is a pretty promising project. Using the auction method, of course, benefits investors. That means our profit can be unlimited. But of course there is little risk as well. According to no effort is not risky.

[liotmaan]

This is such a useless token.

Atomic Swaps negate all of this and removes the need of a third party such as MTN which is nothing more than an advanced tracker across multiple blockchains negating privacy.

[Departure]

Hello. I ask you to reserve for me the Russian translation of your project, if you need it. Please write me about your decision in a private message.

Translation portfolio:

Announcement forum thread:

https://bitcointalk.org/index.php?topic=2459790
https://bitcointalk.org/index.php?topic=2637184
https://bitcointalk.org/index.php?topic=2518407
https://bitcointalk.org/index.php?topic=2186160
https://bitcointalk.org/index.php?topic=2461311
https://bitcointalk.org/index.php?topic=2548069
https://bitcointalk.org/index.php?topic=2189125
https://bitcointalk.org/index.php?topic=2222765
https://bitcointalk.org/index.php?topic=2248297
https://bitcointalk.org/index.php?topic=2302581
https://bitcointalk.org/index.php?topic=2428452
https://bitcointalk.org/index.php?topic=2312909
https://bitcointalk.org/index.php?topic=2389158

White paper:

https://drive.google.com/open?id=1rwP5rI9UuDU036oEhAu8WroHa1M8gr19
https://drive.google.com/open?id=0B6MXnRqX_S8MZHZ2WDFFUlppT2c
https://drive.google.com/open?id=0B6MXnRqX_S8MZkRRSTlVZ1FaazA
https://drive.google.com/open?id=0B6MXnRqX_S8MRUJLb2FseTRqYUU
https://drive.google.com/open?id=1PYbeynFM9gfsLwwrG_6R-AMnWgp-C0NS
https://drive.google.com/open?id=1WqY3s5dX19XVenkJbUJJXrs4fh3_odFj
https://drive.google.com/open?id=1imwi9xsrnAfxoqC_q225xc5fuu3FiPtL
https://drive.google.com/file/d/15zA2H8-vF191_CVEDK3EDPgY0Ka6_SCb/view

[novy]

hello team, I looking for the metronomes's bounty campaign. Is it already launched or it's still in the process or it's not applicable for this project?

[MTNToken]

Hello, is there a bounty thread to participate to the marketing campaign ? I didn't find it, can you give me a link?

Hello,

Currently there is no bounty program. We will update if one is established, but again, currently there is not one.

[MTNToken]

I see the Metronome project is a pretty promising project. Using the auction method, of course, benefits investors. That means our profit can be unlimited. But of course there is little risk as well. According to no effort is not risky.

Happy that you're excited. Thanks for contributing to the conversation.

[Goaliecoin]

The price for one MTN are 2 ETH at the beginning??

Is that right? Why so much?

[jgarzik]

This is such a useless token.

Atomic Swaps negate all of this and removes the need of a third party such as MTN which is nothing more than an advanced tracker across multiple blockchains negating privacy.

It sounds like there is misunderstanding of Metronome here.

Metronome is the opposite of a swap:  There is no asset exchange, thus no exchange rate difference, thus no exchange rate risk or volatility risk.

If you swap BTC/ETH, then you risk BTC price changing or ETH price changing.  Volatility risk + exchange rate risk.

With Metronome, the MTN asset moves to a new blockchain, but keeps the same asset (and same asset price).

Analogy:
A1) Metronome is like a gold bar.  Moving Metronome from blockchain ETH to blockchain ETC is like moving a gold bar from one warehouse to another warehouse.  It's still gold, just different warehouse.

A2) A swap is like exchanging a gold bar for a silver bar, with guards watching the exchange to be sure it is safe and honest.

Swaps are very different from what Metronome does.

[jgarzik]

The price for one MTN are 2 ETH at the beginning??

Is that right? Why so much?

The Metronome Descending Price Auction starts at a high price, then counts down.  It has to start at a high price.

Read more at https://medium.com/@MetronomeToken/what-is-a-descending-price-auction-8c0770bb6a71

tl;dr 2 ETH/token is the cap

[atchoum6760]

For the first day of the auction I would just look at the result I think I have understand this decreasing bidding system, the price changes every minute if there are still some tokens left.

[Yurkov]

This is a project worth watching! With so strong team it must success!

I have never seen a decreasing auction - For sure it will be an interesting experience.

Consider creating a signature campaign please. 2 ETH per single token is definitely too much for me, so maybe for the support of project I will be able to collect a little..

[SheepSuit]

This is a project worth watching! With so strong team it must success!

I have never seen a decreasing auction - For sure it will be an interesting experience.

Consider creating a signature campaign please. 2 ETH per single token is definitely too much for me, so maybe for the support of project I will be able to collect a little..

The thing it is the starting price of the auction. So there is a chance if there are no buyers until 0.01 ETH, the price becomes .01 ETH, if I understand correctly?